Recovery of Investment Losses – Organovo Holdings Inc.
The White Law Group is investigating potential securities claims involving broker-dealers who may have unsuitably recommended Organovo Holdings Inc. to investors.
Organovo Holdings, Inc.(NASDAQ: ONVO), a biotechnology company, reportedly develops bioprinted human tissues that emulate human biology and disease. Its three-dimensional human tissue platform is enabled by its proprietary NovoGen Bioprinters and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture, according to MarketWatch.
The company reportedly filed a form D to raise capital from investors in 2013. The total offering amount was purportedly $7,662,675, according to SEC filings.
According to a press release on October 21, 2019, an investor in shares of Organovo Holdings, Inc. filed a lawsuit against members of the board of directors of Organovo Holdings, Inc over alleged breaches of fiduciary duties.
The plaintiff alleges that disclosures made by Organovo and its Board of Directors in the Company’s proxy statement related to its 2019 annual meeting of stockholders are false and misleading, according to the press release.
Shares of Organovo Holdings, Inc. (NASDAQ: ONVO) declined from $4.99 per share in August 2016 to as low as $.024 per share on September 5, 2019. .
The company also reported that its Total Revenue declined from $4.6 million for the 12 months period that ended on March 31, 2018 declined to $3.09 million for the 12 months period that ended on March 31, 2019, and that its Net Loss over those time periods increased from $34.8 million to $26.63 million.
